The UK government's recent reduction of the national insurance rate from 12% to 10% will benefit 27 million workers, leading to significant annual savings for individuals across various professions and promoting an increase in employment and work hours by 2028-29, while also placing personal taxes for average earners below any other G7 country.
People Management have written an article about what these changes mean for employers and employees.
Senior Associate, Natasha Letchford, comments in the article "Employers should remind staff of the changes to their NICs ahead of the January payroll and reassure employees that any adjustments will be made for the following payroll. This may reduce the number of queries from employees once they receive their pay in January."
Read the full article here.
